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Stellantis reports record margins, $7B profits despite chip shortage

MILAN — Automaker Stellantis on Tuesday said it achieved faster-than-expected progress on synergies and record margins in its first six months as a combined company, despite suffering 700,000 units in lower production due to interruptions in the semiconductor supply chain. The company — formed from French carmaker Peugeot PSAÂ’s takeover of the Italian-American company Fiat Chrysler — reported net profit of 5.9 billion euros ($7 billion) in the first half of 2021, compared with a loss 813 million euros during the same period a year earlier, which was impacted by the coronavirus restrictions around the globe. Shipments rose 44% to 3.2 million units, while revenues rose 46% to 75 billion euros. “We are very pleased with the speed with which the new team has begun to execute as one company, as Stellantis,Â’Â’ Chief Financial Officer Richard Palmer told reporters. Semiconductor shortages accounted for 200,000 units of production losses in the first quarter and 500,000 in the second quarter. Semiconductors are used more than ever before in new vehicles with electronic features such as Bluetooth connectivity and driver assist, navigation and hybrid electric systems. Stellantis achieved 1.3 billion euros in cost savings in the first half, mostly by sharing investments in new technologies and platforms, which Palmer said was a faster rate than initially forecast. It aims to achieve 80% of the targeted 5 billion in cost savings by 2024. “These synergies allow us to continue to invest in the electrification strategy, which we talk about every day,” Palmer said. Stellantis, which lags competitors in rolling out electric vehicles, plans to launch 21 fully electric or plug-in gas electric hybrid vehicles over the next two years. North American posted record profitability on global sales of Ram trucks and the strong launch of the Jeep Wrangler 4xe, which was the best-selling plug-in gas electric vehicle in the United States in the second quarter. Stellantis was the market leader in South America and second in Europe. The results were presented on a pro-forma basis, taking into account the performance of each of the carmakers as separate entities during 2020. Related video: 2021 Jeep Wrangler Rubicon 392 Inside and Out

2019 Jeep Scrambler interior spied, will have Wrangler's removable top

The Jeep Scrambler — the long-awaited truck variant of the Jeep Wrangler — has been in development for a long, long time. We've seen spy shots of various prototypes for years now. Even with the camouflage, it's not difficult to tell what's hiding underneath. We have a new batch here, and while there isn't really anything new on the outside, these do give us a good look at the new Jeep's interior. Good news: It looks like the Scrambler will get the Wrangler's removable roof panels. The roll bar, latch and removable panel are all quite obvious from the inside. Although we know the Scrambler is based on the Wrangler, it was unclear how much of the design would carry over. The rest of the interior is a little more odd. We fully expect the Scrambler to be based on the new 2018 Jeep Wrangler JL, but this prototype has the dashboard of the outgoing Wrangler JK. It also has a Chrysler steering wheel, so this may simply be either a parts-bin prototype or an older tester that hasn't been updated. We don't yet know when we'll see a full reveal, but it doesn't look like the Scrambler will hit dealer showrooms until April 2019. Until then, pore over some more spy photos and some great renderings of the new Jeep truck. Related Video: Featured Gallery Jeep Scrambler Spy Shots View 15 Photos Design/Style Spy Photos Jeep Truck Off-Road Vehicles jeep scrambler

100,000 Jeep Cherokee models subject to further 9-speed recalibration

It seems that the software problems with the nine-speed automatic gearbox in the Jeep Cherokee continue to mount. The programming already caused multiple development delays and even postponed the Cherokee's market launch by roughly two months. Now, Jeep has issued another recalibration to hopefully assuage unhappy drivers.
According to Automotive News, this reflash for the allegedly jerky transmission covers over 100,000 Cherokees built before May 5, but it's not technically a recall. If owners are having problems and complain to the dealer, they get the new software. Otherwise, they continue with the current version. New vehicles on dealer lots also receive the latest revision to the programming. It takes only around five minutes to install, but technicians need to take the Cherokee on a test drive to adapt the gearbox to the changes.
The Cherokee's transmission software has been problematic practically since the beginning. The Jeep plant in Toledo, OH, briefly idled its second-shift workers last year to take care of the issue. Since the launch issues for the crossover, demand has been strong. Jeep added another 1,000 temporary workers to the Toledo factory to keep up, and sales were on par with the Wrangler in just its first two months.